Until federal guidelines change, marijuana retailers will have to deal with apps and websites that resemble loan sharks, bail bonds, and pawn shops. In order for startups to create reputable systems for depositing money earned from the legal sale of marijuana, entrepreneurs need to see a solution to Federal money laundering statutes. Until that day

Recent moves in the U.S. Congress and courts could defang the country’s overarching financial regulatory council when it comes to policing “shadow banking,” the most powerful Democrat on the Senate Banking Committee said on Monday. “Shadow banking” usually refers to nonbanking firms carrying out services similar to those typically offered by banks. Brown wrote that

As marijuana sales skyrocket, companies have been forced to deal under the table. Transactions are always in cash, meaning business exchanges and payments are cash as well. It’s a seedy practice that many dispensary owners are tired of. A lack of access to banking services is, quite frankly, the single most dangerous thing about the

As time goes on, it has become abundantly clear that accessible banking for those within the cannabis industry is sorely lacking. This month, DOPE Magazine spoke with an Oregon legislator, Representative Tobias Read, who’s working towards banking reform for cannabis businesses. Read has been a state representative since 2006, and was the champion behind the